CEX Perpetual Futures Volume Falls to $4T, Lowest Since Late 2023 | RWA News
RWA news: CEX Perpetual Futures Volume Falls to $4T, Lowest Since Late 2023. This update explains what changed, why it matters for tokenization, onchain finance, and institutional adoption, and what the crypto market should watch next.
RWA And Tokenization Update
Crypto perpetual futures trading volume on centralized cryptocurrency exchanges (CEXs) fell to $4 trillion in July, marking a 31-month low last seen in December 2023.Binance led CEXs with $1.4 trillion in monthly perpetual futures volume, followed by OKX with $607 billion and Bybit with $300 billion, analytics platform CryptoRank said in a Friday X post.Perpetual futures volumes briefly recovered between April and June before declining across all major venues in July.The 31-month low in perpetual futures activity came as daily spot crypto trading volume fell 23.6% between July 1 and July 31, from $17.8 billion to $13.6 billion, according to analytics provider Coinglass.Source: CryptoRankPerps volume on DEXs nears one-year lowPerpetual trading volume on decentralized exchanges (DEXs) fell to $531 billion in July, the lowest level since June 2025 and a 21% decline from the $676 billion seen in June 2026, according to data aggregator DefiLlama.Perpetuals trading volume on decentralized exchanges. Source: DefiLlamaPerps trading volume on DEXs has trended lower since the $1.36 trillion seen in October 2025.Open interest on DEXs has also fallen to $17.9 billion in July from a peak of $19.4 billion in September 2025. Open interest measures the total value of active, unsettled contracts and can indicate whether new capital is entering or exiting the market.Related: Hyperliquid RWA contracts grow to 32% of trading activity in Q2Hyperliquid was the leading DEX with $199 billion in reported trading volume over the past 30 days. A growing share of Hyperliquid’s trading volume has come from tokenized real-world assets (RWAs), which accounted for 32% of Hyperliquid’s second-quarter trading activity, generating 6.6% of the protocol’s $169 million quarterly revenue. Tokenized assets became Hyperliquid’s largest trading category for the first time last month, with RWAs accounting for 52% of its total weekly trading volume between July 13 and July 19.Magazine: How Bitcoin and gold reacted differently to the Iran war shockCointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.
Why This RWA News Matters
First, this development may affect tokenized assets, onchain finance, institutional participation, and market liquidity. In addition, it may influence treasury products, private credit, tokenized funds, and cross-market adoption. As a result, traders and investors should watch the next moves closely.
What To Watch Next
Watch for updates from issuers, asset managers, exchanges, and regulators. In particular, any new developments involving tokenized treasuries, real estate, private credit, or tokenized securities could directly affect the broader crypto market.
